Psychedelic bulls offer sector some hope

Yesterday I walked through the chart of each sector peer showing the shifting momentum and indicating what clues we would look for to say that deeper weekly consolidation is underway, or that consolidation is remaining healthy and perhaps finishing. ATAI started the day by confirming a daily downtrend, but CMPS comment at their investors conference that "We've spoken to the FDA" inspired the bulls to start buying and really saved the sector from some deeper weekly consolidation, at least for the time being. In this video I walk through the levels I'm watching to determine if this is merely a one-day pop before the sector resumes it's consolidation, or if we can anticipate consolidation to be finished and start looking forward to higher prices again in the near term future.